Business World

Tuesday 25 September 2018

Trump's trade war looks set to escalate

The European Commission last week warned the trade war between the US and the rest of the world is likely to worsen in the coming months. Image: AP Photo/Jacquelyn Martin
The European Commission last week warned the trade war between the US and the rest of the world is likely to worsen in the coming months. Image: AP Photo/Jacquelyn Martin
Independent.ie Newsdesk

Independent.ie Newsdesk

Trade tensions between the US and China, the world's two biggest economies, are set to escalate on Friday when the US will impose tariffs of $34bn (€29bn) on Chinese goods.

In response, Beijing has said that it will slap tariffs on an equal value of US exports, including agricultural and car exports.

The latest development comes after the European Commission last week warned the trade war between the US and the rest of the world is likely to worsen in the coming months.

Staying in the US, the New York Stock Exchange will close early tomorrow before Wednesday's celebration of July 4.

Bond markets as well as government offices will be closed for the celebrations.

At home, the Central Statistics Office will tomorrow release the unemployment figures for June.

This will be followed by the live register figures for June, which are released on Thursday.

The latest manufacturing PMI report from Investec is out today, while on Wednesday the services PMI report is released.

C&C Group will hold its AGM on Thursday.

Irish Independent

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